Toyota Might Be Making the Future of EVs: Should You Wait To Buy One?

Toyota has been working on solid-state batteries for years, and its plans are moving closer to production. The automaker is targeting 2027 or 2028 for its first electric vehicles (EVs) using the technology, with goals of up to 620 miles of range and charging from 10% to 80% in about 10 minutes, according to CarScoops.

If Toyota succeeds, the new solid-state batteries could be a game-changer for EV buyers. But if you’re thinking about buying an EV now, does it make sense to wait for Toyota’s new battery technology?

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Can Toyota Deliver on Its Solid-State Battery Plans?

Gavin Yi, CEO and project manager at Yijin Solution, said that although Toyota’s solid-state battery targets are aggressive, he wouldn’t discount them. He explained that the bigger question is whether the technology can be manufactured reliably and consistently at a cost that works at automotive scale.

According to Yi, technology can excel during development but hit roadblocks once production volume ramps up. He noted that main manufacturing challenges could likely involve production yield, material consistency, quality at the interfaces between battery layers, equipment precision, cycle time, and cost. He also explained that a process that works for prototypes often needs substantial refinement before it can be repeated efficiently at high volume.

The real test, Yi said, is repeatability. He added, “If you cannot produce the same high-quality result thousands of times at an acceptable cost, you do not yet have a true mass-production solution.”

Should You Wait To Buy an EV?

Yi said he wouldn't advise waiting to buy an EV just because solid-state batteries may become a reality in 2027 or 2028. He explained that early commercialization doesn't necessarily mean the technology will be widely available or affordable right away.

Instead, he said he would compare EV models available now by looking at factors such as range, charging time, battery warranty, reliability and total cost. 

Overall, Yi said that while solid-state batteries are worth watching, scalable manufacturing and cost will ultimately determine how quickly they become a practical option for the broader market. 

Editor's note: Photos are representational purposes only.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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